Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) are selling off double digits this morning, down 10.8% at $5.31 at last check. In a historic sweep, Democrats took back control of not only the House of Representatives and Senate, but more localized races as well, many in historically red counties and states across the nation.
Dubbed the "blue tsunami," President Donald Trump and Republican counterparts are now faced with threat of policy checks and a cold bucket of water on data center growth, tax breaks for high earners, and more. Markets are surging in response, with the Dow Jones Industrial Average (DJI) up more than 1,100 points at last glance. Trump did indicate a willingness to work with his new counterparts, easing some tech fears.
This is poised to be DJT's worst single-session decline since Feb. 5. Trump Media stock opened at a fresh record low of $5.23 this morning, extending its long-term pullback where multiple breakout attempts in the summer were thwarted by the 180-day moving average and $10 ceiling. The stock has shed 59% in 2026 so far.
Short sellers have been piling on, with short interest up 27% during the most recent reporting period. Should this bearish escalation continue, it could act as a headwind for the media firm going forward. Options traders are betting on a bounce back. November 7 calls are the most popular contract today, followed by the weekly 11/6 5.50-strike put.
